Chernin acquires Base79 online video group
Editor | 15-11-2012
Its work may not be hugely known, but Base79 is certainly recognised by The Chernin Group (TCG) which has made a controlling investment in the European online video firm and owner of the largest YouTube network in the Europe.
The new investment from TCG, alongside continued participation from existing investor MMC Ventures will see use in attempting to accelerate Base79's expansion across Europe and into other global territories, to build owned-and-operated brands and channels, and to invest in the company's products and technology.
In operation Base79 partners with video rights holders and producers to build online audiences and brands, claim and protect their intellectual property, sell premium advertising, and generate new revenue streams on YouTube and other over-the-top (OTT) platforms.
It boasts more than 300 premium content partners, including BBC Worldwide, Endemol's Tiger Aspect, IMG Media, Simon Cowell's SyCo, Ministry of Sound, Guinness World Records as well as a number of leading YouTube content creators. In all, Base79 says that it generates more than 550 million views per month across nearly 550 channels on YouTube, giving it UK leadership.
"Base79 has established itself as one of the clear leaders in online video, an exciting space that we believe is positioned to grow faster than any other area of media," said Peter Chernin, founder & CEO of TCG, commenting on the investment. "Base79 is one of Europe's fastest-growing young media companies, and we look forward to partnering with [it] to help build on its vision and capitalise on further opportunities for growth."
"We're thrilled to receive this additional investment and recognition for our business from The Chernin Group, in addition to ongoing support from MMC Ventures. TCG's industry-leading expertise and track record in content, digital media, brand building, international expansion and monetisation will be invaluable as we accelerate the company's international growth and distribution of premium video content across multiple platforms and devices," added Ashley MacKenzie, founder and CEO of Base79.